Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Evening Standard
Evening Standard
Craig Meighan

Forbes hails ‘strong start to the year’ after economy grew 0.3% in January

Deputy First Minister Kate Forbes said she is ‘committed to delivering economic growth’ (Jane Barlow/PA) - (PA Wire)

Scotland’s Deputy First Minister has hailed a “strong start to the year” after onshore GDP rose by 0.3% in January.

Kate Forbes said the news came “in the context of global economic uncertainty”.

The increase came after the economy grew by 0.5% in December.

In the three months to January, GDP is also estimated to have grown by 0.5% compared to the previous quarter.

GDP had remained flat in the fourth quarter of 2024, the Scottish Government figures show.

In January, output in the services sector is estimated to have grown by 0.5%, while production sector output contracted by 1.0%.

Construction sector output contracted by 0.2% in January.

Scotland’s onshore GDP rose by 0.3% in January following a 0.5% rise in December (Gareth Fuller/PA) (PA Wire)

Figures released earlier this month by the Office for National Statistics found GDP across the UK as a whole fell by 0.1% in January.

GDP is also estimated to have grown by 0.2% in the three months to January across Britain, compared to the previous three months.

Ms Forbes, who is also the Economy Secretary, said: “In the three months to January, GDP is now estimated to have grown by 0.5% compared to the previous three-month period.

“This is a strong start to the year for the Scottish economy, particularly in the context of global economic uncertainty.

“Many of the levers needed to deal with our economy lie with the UK Government.

“In particular, the UK Government must provide swift clarity on how today’s spring statement, including its profoundly concerning planned cuts to welfare, will impact Scotland’s economy and budget.

“I am focused on delivering economic growth with the limited powers the Scottish Government holds, and creating an investor-friendly environment.

“Already this year we have seen significant investments in a subsea cable manufacturer at Hunterston and new port infrastructure from Scapa to Montrose, and we are laser-focused on unlocking new private investment in the country’s rapidly growing offshore wind industry.”

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.